Deepak Nitrite, a major manufacturer of chemical intermediates PAT (profit after tax) has increased by 349% from Rs. 32 crore in Q3 FY19 in comparison to Rs. 142 crore in Q3 FY20.    

The company's revenues stood at Rs. 587 crore in Q3 FY20 as compared to Rs. 458 crore in Q3 FY19, higher by 28% Y-o-Y. Balanced growth across bais chemicals, fine and speciality chemicals and performance products segment resulted in robust topline performance during the quarter. Overall this was supported by encouraging demand in the export markets.

Commenting on the performance, Deepak C. Mehta, CMD, Deepak Nitrite said, "It is heartening to share that all three SBUs have demonstrated encouraging growth momentum allowing us to report higher volumes. In our standalone operations, the percentage growth in exports on YTD basis was 3 times as fast as growth in domestic revenues, clearly demonstrating our ability to win global market share. This also underlines our leadership position in key products predicated on a high degree of backward integration."  

"We have capitalised on growth opportunities across global markets by demonstrating agility and nimbleness throughout our operations. We have exercised tight controls over production and inventories, constantly monitored global industry developments, taken appropriate actions while closing engaging with customers, all of which has helped us to optimise our performance," added Mehta. 

Given the robust business visibility, we are planning expansions across all business segments to further foster our performance said Deepak C. Mehta. 

Domestic revenues for the quarter were Rs. 331 crore compared to Rs. 293 crore in the same period last year, growing by 13% Y-o-Y. Export revenues were at Rs. 251 crore in Q3 FY20 compared to Rs. 154 crore in Q3 FY19 resulting in robust growth of 63% Y-o-Y.